News & Articles Reezal Merican: 4,000 PR1MA homebuyers to enjoy deferred loan repayments
Reezal Merican: 4,000 PR1MA homebuyers to enjoy deferred loan repayments
28 Jan 2022
A total of 4,000 housebuyers of 1Malaysia People's Housing Programme (PR1MA) via the Public Sector Home Financing Board (LPPSA) affected by construction delays will be given deferred loan repayments, said Housing and Local Government (KPKT) Minister Datuk Seri Reezal Merican Naina Merican.
He said he understood the burden borne by these housebuyers due to delays in project completion, especially because of the Covid-19 pandemic.
"We sent an application to the Finance Ministry seeking a six-month deferment (of loan repayments)," he told a press conference after officiating the key handing-over ceremony for Residensi Pulau Sebang, here, yesterday.
He said this was because financing through LPPSA was not like taking loans from banks or banking institutions where deductions begin after housebuyers receive their keys from the developer.
"For LPPSA financing, whether the project is completed or not, deductions will begin after 24 months for landed property and 36 months to 60 months for strata property," he said.
The complete information and process related to the deferment will be announced soon.
Meanwhile, Reezal Merican said the government had never remained silent on completing the 22 housing projects under PR1MA that were categorised as being delayed.
He said this included finding more realistic and proactive solutions, especially involving payment and selection of contractors.
"So far, PR1MA has identified and terminated the contracts of contractors who failed to implement the project, and it (PR1MA) has appointed rescue contractors and local contractors.
"Monitoring the work conducted by the rescue contractor is also done until it is completed because if it involves delays, this will incur increased costs," he said.
So far, seven PR1MA projects have been developed in Melaka and three of them have been completed, namely Residensi Pulau Sebang in Alor Gajah, as well as Residensi Rumpun Bahagia and Residensi A'Famosa 1.
The other four are still under construction, namely Klebang Residence 2, A'Famosa Phase 2 Residence, Bukit Katil Residence and Melaka Tengah Residence 2. The "Jejak KPKT" programme has 4,634 housing units in Melaka through PR1MA. - Bernama
He said he understood the burden borne by these housebuyers due to delays in project completion, especially because of the Covid-19 pandemic.
"We sent an application to the Finance Ministry seeking a six-month deferment (of loan repayments)," he told a press conference after officiating the key handing-over ceremony for Residensi Pulau Sebang, here, yesterday.
He said this was because financing through LPPSA was not like taking loans from banks or banking institutions where deductions begin after housebuyers receive their keys from the developer.
"For LPPSA financing, whether the project is completed or not, deductions will begin after 24 months for landed property and 36 months to 60 months for strata property," he said.
The complete information and process related to the deferment will be announced soon.
Meanwhile, Reezal Merican said the government had never remained silent on completing the 22 housing projects under PR1MA that were categorised as being delayed.
He said this included finding more realistic and proactive solutions, especially involving payment and selection of contractors.
"So far, PR1MA has identified and terminated the contracts of contractors who failed to implement the project, and it (PR1MA) has appointed rescue contractors and local contractors.
"Monitoring the work conducted by the rescue contractor is also done until it is completed because if it involves delays, this will incur increased costs," he said.
So far, seven PR1MA projects have been developed in Melaka and three of them have been completed, namely Residensi Pulau Sebang in Alor Gajah, as well as Residensi Rumpun Bahagia and Residensi A'Famosa 1.
The other four are still under construction, namely Klebang Residence 2, A'Famosa Phase 2 Residence, Bukit Katil Residence and Melaka Tengah Residence 2. The "Jejak KPKT" programme has 4,634 housing units in Melaka through PR1MA. - Bernama
Source: NST.com.my
Latest Posts
-
LBS signs MoU for 10GW green hydrogen project in Sabah
-
Milla Residence sedia tempat letak kereta automatik canggih
-
RHB Research positive on Kerjaya Prospek citing robust job flow pipeline
-
Kerjaya Prospek, Aspen Vision bangun tanah 33.52 hektar di Pulau Pinang
-
Matrix Concepts dinobat antara 10 pemaju hartanah terbaik Malaysia